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The University of Texas at Austin

Cash Advance Reconciliation

↩ Travel & Cash Advance   |   ↩ CASH ADVANCE PROGRAM

  • Cash Advance Reconciliation - Improvement Efforts

    The Cash Advance process at UT is complicated and cannot be changed due to federal regulations. Its efficiency depends on how we manage the requirements. Establishing clear steps, realistic timelines and expectations are key toward improving this process.

    Please adhere to the guidelines outlined below to ensure we are all working together to achieve efficiency. And as always, let us know if you've identified something that could improve this process.

  • TRAVEL Cash Advance Reconciliation RECEIPTS <---- PI GUIDELINES

    Upon conclusion of travel (end date on cash advance request), be prepared to either: 

    a) Turn in all receipts within 2 Weeks of Return

    Receipts that have been catalogued appropriately*

    OR b) Meet with Admin within 2 Weeks of Return

    To clarify details about receipts and invoices for reconciling


    RECEIPTS NEED TO CHANGE HANDS WITHIN 2 WEEKS

    *Cataloguing receipts consists of:

    • Creating a list, ideally a spreadsheet
    • For each unique destination
    • That assigns a clear numbering system to all receipts and invoices
    • Grouped by the 4 types of cash advance expense categories
      (travel, program expenses, entertainment, professional services)
    • Includes description
    • Costing basis, amount
    • Currency, conversation rate/method/date
    • And any other required and/or clarifying information 

     

    The distinction of the two options above is to create sufficient lead time for the admin who will be responsible for reconciling cash advance costs within the following 2 weeks - with no additional processing time allowable. If you, as PI, are organizing the receipts yourself, taking the full two weeks to do so is a reasonable expectation.

    If you are not prepping the receipts yourself, turn receipts in sooner than the 2 week deadline to give the admin sufficient time to add that task (and subsequent clarification request) to their reconciliation process, OR be prepared to sit down with the admin to go over the receipts to bring them to a point of being ready for processing - in advance of the 2 week deadline. THIS STEP IS EXTREMELY IMPORTANT

    Sending unprepped receipts to the admin at the end of or after the PI 2 week window puts the admin at a disadvantage for meeting the deadline imposed by the university's cash advance policy. Plan ahead!

    Make sure you stay responsive to the admin as they are preparing the reciepts for reconciliation in case they have additional questions or need further clarification.

    Admin DISCLAIMER: If you give the admin less time than the university gives them (2 weeks), you forfeit the tax benefit of reconciliation processed under UT's (IRS) Accountable Plan, and will instead receive the reimbursement as taxable income that will be added to your W-2 for the tax year within which it was claimed.

    TURN-IN STATUS: If you want there to be an accountability system that guarantees your cash advance reconciliation is processed in compliance with UT's Accountable Plan (tax-free), send your admin an email (CC LA Research) requesting that they confirm the date that your receipts meet 'fully prepped' status. That's when your Admin's 2 week countdown begins.

    Once admin has prepared the reconciliation, they will be able to confirm any additional amount owed to you (which will be processed by the Cash Advance Office) OR the unused amount you owe the university --which is required to be paid back within 30 days of conclusion of cash advance request dates. See Cash Overage section below for more information on cash return.

  • Cash Advance Reconciliation <---- CASH OVERAGE TURN-IN

    Coming soon

  • Travel Cash Advance Reconciliation - Admin Guidelines

    Coming soon

  • Study Participant Cash Advance Reconciliation <---- PI GUIDELINES

    Coming soon